How much does it actually cost to charge from flat to full?

[Deleted member 2439]

My PV system cost around £14k in Jan 2010 (I'm FiT #16) and the rolling FiT payment for the last year was £1987 which greatly exceeds my combined gas and electricity bills.

And another 9 years to go ...

9 years to go, I thought it was a 25 year FIT contract, I’m sure mine is and I signed up at the end of 2011 - just before they closed the stable door on the really generous & RPI linked FIT. I broke the £2k barrier last year ?. Mind you, my panels also cost about £14k, you can get a similar system for about £4K these days ?

 

[greentangerine]

9 years to go, I thought it was a 25 year FIT contract, I’m sure mine is and I signed up at the end of 2011 - just before they closed the stable door on the really generous & RPI linked FIT. I broke the £2k barrier last year ?. Mind you, my panels also cost about £14k, you can get a similar system for about £4K these days ?

Yes, my mistake, it is 25 years so mine started on 1st April 2010 and will finish in 2035 - I suspect the govt. may well try and scrap it before then though.

 

[Deleted member 2439]

Yes, my mistake, it is 25 years so mine started on 1st April 2010 and will finish in 2035 - I suspect the govt. may well try and scrap it before then though.

I hope they don’t - they’ve essentially contracted with us for a 25 year term ?

 

[Chrispydoc]

Yes I think it was 25years......should see me out OK then!

 

[kompkar]

Talking about FIT payments - if I move my panels and associated electrics from one property to another - will I still be eligible for the FIT payments ? (or) is the contract only valid at the original address where it was initially installed ?
(my FIT eligible installation is in our rental property which I plan to sell soon but would like to move the solar installation to our new home before I put that rental prop. on the market)

 

[Les burrows]

You where right it fits payments belongs to the property where you had them installed from new you can take them with you but you will lose the fits payments
Google Solarguide .co.uk

 

[Deleted member 2439]

Talking about FIT payments - if I move my panels and associated electrics from one property to another - will I still be eligible for the FIT payments ? (or) is the contract only valid at the original address where it was initially installed ?
(my FIT eligible installation is in our rental property which I plan to sell soon but would like to move the solar installation to our new home before I put that rental prop. on the market)

An option could be to leave the system on the property, essentially giving it to the new owner - with the agreement that you continue to get the FIT. It may be worth it if you are on the highest FIT - worth getting legal advice on though. ?

 

[greentangerine]

An option could be to leave the system on the property, essentially giving it to the new owner - with the agreement that you continue to get the FIT. It may be worth it if you are on the highest FIT - worth getting legal advice on though. ?

You can't move them to a new property but the FiT value is a selling point in the exchange (as the contract can be transferred) - mine are worth about £2k/year now and will increase over the next 15 years whilst also reducing the electricity bill to the property significantly at the same time. That should be a factor in the sale price and your solicitor should be supporting/defending that.

 

[Chrispydoc]

Thats OK if you have not got a "rent a roof" then it can be a huge problem......

 

[Deleted member 2439]

Definitely worth discussing with your FiT provider, they would have experience of this situation & there’s a huge amount of money at stake if it goes wrong. If it’s transferable then you have a big bargaining chip with a purchaser - but don’t get too greedy as it won’t be all upside for them either. The benefit will come in quarterly over the 15 years and they have potential maintenance /repair costs to figure into the equation. Good luck

 

[Chrispydoc]

It can be a lot worse than that if you don't own the installation and they belong to a 3rd party.

It's then a huge negative and can even sink the sale of the property if the 3rd party demands a load of cash to give up their rights to them.

 

[Deleted member 2439]

It can be a lot worse than that if you don't own the installation and they belong to a 3rd party.

It's then a huge negative and can even sink the sale of the property if the 3rd party demands a load of cash to give up their rights to them.

Absolutely, there is a lien on the property & I can see it being a potential show stopper. That’s why I think an outright transfer is a completely viable option.

 

[kompkar]

Thanks guys, I have verified that the solar installation is 100% owned by us and there are no tie-in's with any other entities.
I'm currently receiving the quarterly payments - adds up to roughly 600£ a year.
It's only a small installation with 4x panels that came with the house when we bought it brand new build.
I don't think it will increase/decrease the potential sale price of the property and hence my desire to move the installation to my new home as I now have the MG and also the Outlander PHEV, it would make sense to have solar at home and begin transition to long term-off grid solution.
I shall call the Energy company and enquire if my agreement is eligible for transfer to new property.